The global adipic acid market revenue is expected to register a moderate CAGR over the forecast period. Rapidly growing automotive and packaging industries globally, coupled with growing industrialization are major factors expected to boost growth of the target market over the forecast period. In addition, various advantages associated with use of adipic acid which includes durability, lightweight nature, excellent energy absorbing property is expected to propel growth of the target market over the forecast period.
The global adipic acid market report has been segmented on the application, end use industry, and region.
Based on application, the global adipic acid market is segmented based on nylon 6,6 fiber, nylon 6, 6 resins, polyurethanes, and adipate esters. The nylon 6,6 fiber segment is estimated to account for significant revenue share and is expected to maintain its dominance over the forecast period.
Based on end use industry, the global adipic acid market is segmented based on automotive, packaging film & coating, industrial, electrical & electronics, and others (appliances and consumer goods).
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Based on region, the global market is segmented based on North America, Europe, Latin America, Asia Pacific and Middle East & Africa. North America contributes for significant market share in terms of revenue in global adipic acid market and is expected to maintain its dominance over the forecast period. In addition, Asia Pacific is expected to register fastest growth over the forecast period. Rapidly growing automotive, packaging, and electrical industries especially in India and China, is a major factor expected to drive growth of market in Asia Pacific over the forecast period.
Some prominent players in the global adipic acid market are Asahi Kasei Corporation, Ascend Performance Materials Inc., BASF SE, INVISTA S.à r.l., Lanxess Corporation, Petrochina Liaoyang Petrochemical Company, Radici Group, Rhodia, Shandong Haili Chemical Industry Company, Ltd., and Shandong Hongye Chemical Company, Ltd.